Property tax exemption-inflation cap 2.

This bill creates a property tax exemption for single-family homes in Wyoming, directly affecting homeowners of such properties. The exemption equals the increase in a home's market value from the prior year plus 3% (or 2020 value plus 3% annually for 2025), limiting annual tax increases. Homeowners must apply to the Department of Revenue for the exemption, which applies to only one property per owner. Tax assessment notices must now include exemption information and estimates of potential tax savings. The exemption takes effect January 1, 2025, with rules to be adopted by the Department of Revenue by that date.